CPI 4.4%Talk to anyone that actually buys things and they think inflation is double digits.
30% of CPI is shelter.
75% of variable rate mortgages have hit their trigger rate.
Roughly 30% of ALL residential mortgages are negatively amortizing while fixed rate mortgages are significantly higher than 2018.
CPI Basket
Mortgage interest cost is 3.11 and Homeowners' replacement cost 6.24 while in 2011 the figures were 4.13 and 4.25. It does take a rocket scientist to realize that StatsCan doesn't even measure the actual price of a house instead they use the first derivative. The weights do not reflet the reality of 2022 or 2023. The CPI is Consumer Price Index not the Consumer Payment Index.
The Consumer Price Index is supposed to measure the overall change in consumer prices based on a representative basket of goods and services over time. Imagine how hard it would be to track price changes with component weights changing with quality and hedonic adjustments.
But yeah CPI was 4.4% and housing is not a bubble.